Investigation is no basis not to buy us, angry Akorn tells Fresenius

23 April 2018

Specialty generic drugmaker Akorn (Nasdaq: AKRX) is crying foul at news which sent its share price sliding by 30% on Monday.

Germany-headquartered healthcare firm Fresenius (FWB: FRE) was supposed to be taking over the US company in a deal announced in April 2017 worth a reported $4.3 billion, or $34 a share, plus the assumption of debt of about $450 million.

But Fresenius announced on Sunday that it had decided to terminate the merger agreement due to Akorn’s alleged ‘failure to fulfil several closing conditions’.

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